Eleving Group's IPO Secures Strong Investor Interest

Professional and retail investors demonstrated notable support for Eleving Group's initial public offering (IPO), subscribing to shares worth 33 million euros, exceeding the base offer by 1.2 times. This marks the largest IPO in Latvia by a private firm. Investors from the Baltic countries and Europe contributed significantly.

Institutional investors took a substantial share, comprising 72% of the allocation, while retail investors accounted for 28%. Estonia led the retail demand, followed by Latvia and Lithuania. The company set the final offer price at 1.70 euros per share, aiming for a free float of 18.4% post-offering.

Trading of shares is set to commence on October 16, 2024, on the Nasdaq Baltic Main List and Frankfurt Stock Exchange. LHV Pank led the syndicate, supported by several financial institutions.